Robinhood Chain sees $3.1B weekly DEX volume, driven by meme coins and ETH accumulation. Hyperliquid Perps fees jump 167% driven by on-chain stock trading growth. Strategy sells $467M in MSTR shares, increases cash to $3B, skipping Bitcoin buys.
The newly launched Robinhood Chain has rapidly gained traction, hitting $3.1 billion in weekly DEX volume and attracting 65,000 users since July 1, according to Bernstein. Early momentum is primarily driven by meme coin trading, with BitMine accumulating 27,801 ETH and its chairman, Tom Lee, noting that users are "starting to see Ethereum as money" due to the Layer 2's everyday adoption.
Hyperliquid Perps experienced a significant 167.76% increase in 24-hour fees, reaching $2.29 million. This surge is attributed to the rapid growth of on-chain stock trading, with HIP-3 markets now accounting for nearly 50% of Hyperliquid's total perpetual volume, up from approximately 2% at the beginning of the year.
Strategy, a major corporate Bitcoin holder, sold $467 million in MSTR shares and increased its cash reserves to $3 billion, marking the third consecutive week without a Bitcoin purchase. Analysts view this as a sign of "greater balance-sheet discipline," maintaining their Buy ratings on the company. Strategy's total Bitcoin holdings remain at 843,775 BTC.